Bastardo's high strikeout/walk/flyball rate formula was less effective for him on the surface this year, given the significant increase in his ERA. 43 holds over the past two seasons should still enable him to exceed $1MM as a first-timer. Frandsen had a nice campaign in 210 plate appearances, and has probably earned a spot on next year's team.

Schierholtz, 28, came to the Phillies in their trade deadline Hunter Pence deal but totaled only 73 plate appearances for his new club. He missed time with a broken toe, and is a non-tender candidate.

Assuming Bastardo and Frandsen are tendered contracts, the Phillies are looking at an estimated $1.9MM for two arbitration eligible players.

Matt Swartz's arbitration projections are available exclusively at MLB Trade Rumors. To read more about his projection model, check out this series of posts.